Innovative Industrial Properties, Inc. (NYSE:IIPR) Receives $127.67 Average PT from Analysts

Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $127.67.

A number of equities analysts have recently issued reports on IIPR shares. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler lowered their price target on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Compass Point upgraded shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Friday, November 8th. Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Finally, Roth Mkm lifted their target price on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in Innovative Industrial Properties in the third quarter valued at $25,000. Blue Trust Inc. grew its stake in shares of Innovative Industrial Properties by 2,085.7% in the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock valued at $48,000 after buying an additional 438 shares during the period. Signaturefd LLC increased its position in Innovative Industrial Properties by 42.3% in the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $55,000 after buying an additional 150 shares in the last quarter. Canton Hathaway LLC acquired a new position in Innovative Industrial Properties during the 3rd quarter worth approximately $55,000. Finally, Loomis Sayles & Co. L P boosted its holdings in Innovative Industrial Properties by 3,130.8% in the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock worth $57,000 after acquiring an additional 407 shares in the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Trading Down 1.2 %

IIPR opened at $102.23 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53. Innovative Industrial Properties has a fifty-two week low of $77.88 and a fifty-two week high of $138.35. The company’s 50 day moving average price is $127.93 and its two-hundred day moving average price is $118.66. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 18.19 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The company had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 earnings per share. As a group, research analysts predict that Innovative Industrial Properties will post 8.36 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 7.43%. The ex-dividend date was Monday, September 30th. Innovative Industrial Properties’s dividend payout ratio (DPR) is 135.23%.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.